Made Group, the Melbourne-based business behind the drinks brands, will slot into Danone’s global portfolio, which already spans YoPRO high-protein yoghurt, Evian mineral water, Silk plant-based milk and Aptamil infant formula. The takeover, expected to be confirmed as soon as this week, is a major scale-up of Danone’s operations in Australia, which currently centre on its Tangambalanga facility in Victoria’s Kiewa Valley.
Danone’s interest first surfaced in April via Australian Financial Review reporting, which flagged the deal months before it crystallised.
Competing bidders circled Made Group before Danone moved into pole position. Singapore sovereign investor Temasek and China’s CIC were among those evaluating the asset, showing how sought-after premium beverage brands have become.
Chinese agriculture conglomerate New Hope also teamed up with soft drink producer Huanlejia Food to make a run at the business, showing interest from both institutional capital and strategic food groups. The deal size, nearing $2 billion, shows how private equity owners can turn niche beverage names into major paydays through brand building and distribution expansion.
Global food and drink multinationals are looking to Australia for growth in segments such as plant-based, protein-rich and “better for you” beverages. Danone’s move signals confidence that local brands like Cocobella and Rokeby can travel beyond domestic supermarket shelves into export markets across Asia and beyond.
Sovereign wealth funds and Chinese food giants that missed out now face rising competition for assets that tap consumer demand for healthier, higher-margin drinks.
